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 27 Strongly opposing Prime Minister Narendra Modi s plans to privatise all public sector banks (PSBs), the Unted Forum of Banking Unions on Thursday said that it could imperil Rs 80 lakh crore hard-earned money belonging to the people.   UFBU Convenor Devidas Tuljapurkar said that the move could prove counterproductive as the private sector banks will work towards accounting profits vis-a-vis the PSBs which strive towards social profits .   To protest the move to privatise the PSBs, the UFBU will go on a two-day nationwide strike on March 15-16, he said.   India is still confronted by poverty, unemployment, hunger, there is acute economic disparity and geographical imbalances There is a need to implement social sector lending schemes in which the private sector banks hardly contribute, Tuljapurkar said.

Devidas tuljapurkarKetan parekhNarendra modiHarshad mehtaUnted forum of banking unions onGlobal trust bankKarad bankPrime minister narendra modiUnted forumBanking unionsJan dhan schemeMake in indiaYes bankState bankOriental bankMutual fund returns